Tuesday, February 24, 2009

Getting Long International Coal Group - ICO.

The daily chart (above) of International Coal Group, ticker ICO, looks very interesting as a long punt. As my notes above indicate, I realize we are in a bear market and in a bear market the vast majority of stocks decline we should not pass up opportunities like this.

I am getting long 1 unit of ICO here at $1.50 with a stop just below the recent lows. I like $1.37 as the number.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Disclaimer

Copyright 2008 Prudens Speculari. All Rights Reserved. The content on Prudens Speculari site is provided as general information only and should not be taken as investment advice. All site content, expressed or implied herein, are for informational purposes only and shall not be construed as a recommendation to buy, sell, invest, trade, or speculate in any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) who may or may not have a position in any company referenced above. Any action that you take to buy, sell, invest, trade or speculate in any security or financial instrument as a result of information, analysis, on this site expressed or implied is ultimately your own responsibility and are committed at your own risk, financial or otherwise. Consult with your investment adviser before making any investment decisions.